PORT RICHEY — For a company operating in what its owners call a mature industry, Seaway Plastics Engineering is carving a niche with new creations.

The plastic injection molding company specializes in low-volume prototypes manufactured quickly and has played a role in hundreds of successful product launches. It’s a business model that differentiates Seaway in the injection molding industry.

While similar businesses were downsizing and having molds made in China, the two decided to invest in Seaway’s mold-making capabilities and upgrade equipment and software for low-volume, efficient production.

“We kinda bucked the trend,” said Smock, who is CEO. “A lot of our customers were doing low-volume production offshore, but now they’re bringing that back to the U.S. We have a front row seat. The opportunities we’re seeing are domestic and in the R&D arena and low-volume production.”

Seaway’s prototype production will total roughly 225 molds by the end of this year with lead times ranging from five to 25 business days. About 50 percent of its customers are health care-related, followed by aerospace, the military and the industrial electronics market.

“It’s a neat niche with almost nobody in it,” said Steve Meitzen, president of the Bay Area Manufacturing Association and corporate sales director at Southern Manufacturing Technologies in Tampa. “With prototyping, customers want it quickly. They need to show proof of concept to test or build.”

Investing: equipment, branding, tech

Seaway has achieved controllable, sustainable growth by re-investment in equipment that makes it efficient and flexible. The company recently spent nearly $200,000 to add two new HAAS CNC machines to build molds for an injection molding press and another $100,000 for an injection-molding machine.

The company owns its existing 35,000-square-foot building and is scheduled to complete a 20,000-square-foot expansion in December. Smock expects to add another 10 to 30 employees over the next several years.

Seaway has accomplished projects by establishing what Smock described as a good relationship with a banking partner – BB&T. While Seaway is not debt-free, it has paid off its lines of credit and continues to grow.

Determined to not be “left in the dust,” Smock, who previously ran a marketing company, also makes certain Seaway’s brand and name stay prominent in the industry.

The company hired Digital Light Bridge, a New Port Richey firm, to help create a website and to develop social media strategy.

“We understand the importance of getting our name out there,” Smock said.

He believes another key to Seaway’s success is attitude, starting with the top management.

“We know this business, and we have a passion for the business,” Smock said. “That moves through the whole organization. Selling is simply a transfer of enthusiasm.”

He and Bernard, who started working with the company in the 1980s and handles mold-making operations, first identified what they were good at and what would make the company profitable. That thinking evolved into Seaway’s current business model.

One issue he has encountered is identifying potential employees with the right training and attitude. The company hires through an agency but has had difficulty filling some jobs. Seaway’s ad for a mold designer, which is a highly technical job, produced only three resumes.

“The manufacturing business environment is a tough environment,” Smock said. “At the same time, there are opportunities.”